24 Hour Fitness

24 Hour Fitness
Company typePrivate
GenreFitness
Founded1983; 41 years ago (1983)[1]
FounderMark S. Mastrov[1]
Headquarters
Carlsbad, California
,
United States
Number of locations
287[2]
Area served
11 U.S. states
Key people
Karl Sanft (CEO)
Owner
  • Sculptor Capital Investments LLC
  • Monarch Alternative Capital LP
  • Cyrus Capital Partners LP
Number of employees
7,500+
Website24hourfitness.com
24 Hour Fitness's former headquarters building in San Ramon, California

24 Hour Fitness is a privately held and operated fitness center chain headquartered in Carlsbad, California. It is the second largest fitness chain in the United States based on revenue after LA Fitness,[3] and the fourth in number of clubs (behind LA Fitness, Anytime Fitness and Gold's Gym),[4] operating 287 clubs across 11 U.S. states. The company was originally founded by Mark S. Mastrov and was sold to Forstmann Little & Co in 2005, and then to AEA investors and Ontario Teachers Pension Plan in 2014.

After the COVID-19 pandemic forced gym closures and ravaged the fitness industry in 2020, the company filed for bankruptcy in June 2020, closed over 100 clubs, and successfully emerged from bankruptcy under new owners Sculptor Capital Investments LLC, Monarch Alternative Capital LP and Cyrus Capital Partners LP in December, 2020.[5]

  1. ^ a b Ryan, Kevin (27 September 2017). "Fitness gurus who turned a workout passion into a business empire". CNBC. Retrieved 30 May 2018.
  2. ^ "About Us" (Press release).
  3. ^ GmbH, finanzen net. "One gym is taking the workout world by storm (PLNT) | Markets Insider". markets.businessinsider.com. Retrieved 2020-02-26.
  4. ^ "11 Biggest Fitness Chains in America". Insider Monkey. Retrieved 2020-02-26.
  5. ^ Jordan Valinsky (15 June 2020). "24 Hour Fitness files for bankruptcy and closes 100 gyms". CNN. Retrieved 2020-06-15.